Opinon on ICICI Pockets (and alternatives)

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Lord Nemesis

Lord Nemesis

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I am looking for a pre-paid VISA card for use by my mom.

ICICI Pockets apparently provide a physical VISA card on request to go along with the digital wallet. Does anybody have experience with Pockets?

Any other good alternatives to consider?
 
I used it a few times. After that I stopped. It's a pre paid VISA (Debit?) card as you mentioned and to use it we need to do a bank transfer to the card first. No points or anything on it. Yes, we get physical card but its useless for me imo. I don't know which places allow this card for physical use though.

I only used it to top up my annual TataSky subscription and some other online payment like mobile phone top up, relatives DishTV subscription etc. The only reason I stopped using it is its cumbersome. First top up the card with equal or more money and wait for 1 hr to a day for it to show up in the card. Then we get to use it. Normal CC is much faster for payments. I did have some problem when transferring money the first time, but it got resolved through the in app customer chat very fast. Didn't have any experience with returns or claims on the card.

Edit: I remembered this - max allowed value on card is 10K per month.
 
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If its a VISA card, it should be usable with most of the card readers right? The reason I wanted to try this is because my mom is not comfortable using a regular debit card which has much larger limits.

I am also considering a SBI pre paid card as well as getting a add on card for my credit card and configure the sub limits.
 
Lord Nemesis said:
If its a VISA card, it should be usable with most of the card readers right? The reason I wanted to try this is because my mom is not comfortable using a regular debit card which has much larger limits.

I am also considering a SBI pre paid card as well as getting a add on card for my credit card and configure the sub limits.
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I believe you can manually set a lower daily spend limit on a debit card for icici, at least for the titanium master card.
 
I use Slonkit (http://www.slonkit.com/slonkit/).
I can put money in via the app and it becomes available instantaneously.
I use it to pay at PoS terminals instead of my credit card as I am afraid of card skimmers. The best thing is that I can change the PIN right from the app. So there is no issue of forgetting PIN.

Limit is 10k per month. Not sure if we can provide KYC documents and get the limit raised. This card is an initiative by DCB bank.
 
Arjun said:
Whats the use of a cc if you are afraid of using it, you can dispute it in case of any issues, i avoid using DC but use cc every where
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I use my CC online. But not at PoS. I guess I have a mind block that skimmer machines can be there in the PoS terminals.
Even online I try to use HDFC VCC as much as possible. Wherever I cannot use VCC, then only I enter real card details. Too many hacks have happened recently.

I use credit card to build up my credit score. Have no need for home loan or personal loan at this moment. So this is the only medium left. Also helps a bit in budgeting as I can defer paying for an item for 20-30 days. And this is the fastest method available while booking Tatkal tickets.
 
Applied for a ICICI Pockets physical card, but not sure if they are going to send it any time soon given the present state of banks. My sister requested for a paid bank statement on 19th Nov and it has not been sent so far.
 
Arjun said:
Whats the use of a cc if you are afraid of using it, you can dispute it in case of any issues, i avoid using DC but use cc every where
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There's a very good plus point for these pre paid cards. Scammers will have a hard time with it. Say you have only 5k in it and you use it at a POS for around 3k, there would be only 2k left in balance. So if a scammer tried to use the card for more it would get declined automatically. There is no such safety in credit or debit card besides hitting the card limit.

I'm thinking i should get the physical card for this reason.
 
^ Thats why I opted to get the Digibank card, plus I liked the features. I did not opt for Pockets because being an ICICI product, I am going to face shitty service at some point or the other. Plus the 10% cashback on purchases from certain vendors was a big draw.

I would be getting my debit card replaced in a few days, once I am certain I can manage for a few days.

Additionally, when signing up for the credit card, I ensured it had a low limit, maxing out at 2x my monthly salary. Now its about half of that, and I use it only for Aliexpress.
 
^^ Yeah, I am considering that option as well. I can apply for add on cards on both my HSBC and HDFC credit card accounts. Its just that it will require more paper work.
 
Lord Nemesis said:
^^ Yeah, I am considering that option as well. I can apply for add on cards on both my HSBC and HDFC credit card accounts. Its just that it will require more paper work.
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I think I had provided my Dad's Aadhar card and Pan card copy for my Axis account.
I had to do nothing else.
 
For HDFC, getting a add-on is online process if my mom also holds a HDFC account, but otherwise, I have to go to the bank and submit a KYC form along with documents
 
Regarding this ICICI pockets account,

Its a really useless thing.. Now they ask for 5k AMB for account holders above 25 years.
Plus the charges for non-maintenance are also not clear (5000???)

Mistakenly opened one!! because started to do Chillar transactions now i think it doesn't deserve the thing!!
 
swatkats said:
Regarding this ICICI pockets account,

Its a really useless thing.. Now they ask for 5k AMB for account holders above 25 years.
Plus the charges for non-maintenance are also not clear (5000???)

Mistakenly opened one!! because started to do Chillar transactions now i think it doesn't deserve the thing!!
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I saw there is no way to close that pockets card online. I was searching for half an hour to see if there's a way to cancel that pockets card etc but nothing. its like mafia card.
 
6pack said:
I saw there is no way to close that pockets card online. I was searching for half an hour to see if there's a way to cancel that pockets card etc but nothing. its like mafia card.
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Have to visit the branch it seems. Better to stay from these non-transparent accounts.

From the website:
Open a Savings Account any time you like.
You can 'unlock' advanced features by applying for Pockets savings account - right from the app itself. Keep your necessary documents ready and we will open your Pockets savings account through our super-quick Tab Banking facility.

Effective August 5, 2016, the Minimum Monthly Average Balance in Pockets Savings Account is Zero Balance for users in the age group of 18 to 25 years and Rs. 5000 for those above 25 years.

Receive interest on your balances, create deposits or iWish goals, enjoy higher transaction limits and withdraw cash with the Pockets Savings account.
Click to expand...
 
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